Is it better to take your Social Security benefits now, or spend your retirement savings first?

I want to thank everyone for the overwhelming response to my new book, The Little Black Book of Social Security Secrets.  We’ve received an unprecedented number of phone calls and emails from readers who have read it, and who now realize that the choices that they make about Social Security can have an enormous impact on their retirement years.  Many of you want to know if you’re making the right decision about when to collect Social Security, and have written with the specifics of your situation.  Unfortunately, I just cannot answer all of your questions personally.  But what I will try to do on this blog is address some of the major issues that seem to be of the most concern to my readers.  For same-sex readers who are legally married and who have filed for Social Security benefits, the burning question seems to be, “Are they ever going to process my claim?”

What is the status of the backlog of claims that have already been filed by same-sex couples?

Social Security recently released Emergency Message EM-16013 REV, which provides their employees with long-overdue guidance on how to process the existing claims of same-sex individuals who were trapped by conflicts created when they married in one state, but lived in another.  This guidance effectively makes same-sex couples subject to the same deemed filing rule that is applied to opposite-sex couples.  And, while the Emergency Message is a good start, I’m not convinced that we will see a resolution to the backlog any time soon.  Many readers who are not even subject to the subtle interpretations of the Social Security rules that came as a result of The United States vs Windsor have told us about the backlog in processing their claims – so this is not necessarily a problem unique to same-sex couples.  We’re hearing horror stories from many traditional married couples whose applications have been in limbo for over a year!

I will devote a future blog post to some ideas that might help you move your existing claim along a little more quickly.  But for now, let’s look at some of the other questions raised by readers who are evaluating their options, but who have not yet filed.

When is the best time to apply for Social Security?  Should I take my benefits now, or spend my retirement savings and apply later?

Several readers have written and said that they are in a situation similar to this one:

My employer has just told us that the company has filed for bankruptcy and will be closing its doors later this year.  I don’t know if I will be able to get another job at my age and, even if I do, I’m  not sure I will be able to make as much money  as I am making now.  My spouse doesn’t work outside of the house.  I was thinking about signing up for my Social Security benefits once the company closes, but then I read your book.  I do have some savings in retirement plans (both traditional and Roth), and an investment account.   When is the best time for me to apply for Social Security if I can’t find another job?  Should I spend my savings now and apply for Social Security later, or should I save my money and apply now?

The loss of a job, especially at this point in your life, can be traumatic.  Before we review the options that you have, let’s go through a quick refresher on two of the points covered in The Little Black Book of Social Security Secrets.

When Should You Take Social Security?

How does the age at which you actually collect Social Security affect the amount you receive? Legally married same-sex couples are now eligible to receive the same Social Security benefits as traditional married couples.  If you are now 62, your Full Retirement Age (FRA) is 66.  If you wait until your FRA to collect your benefits, you will receive your Primary Insurance Amount (PIA).  If you collect at 62, your monthly check will be permanently reduced, by 25 percent of your PIA.  If you wait until you are 70 to collect, your check amount will be permanently increased by Delayed Retirement Credits (DRCs) of 8 percent per year (up to a maximum of 32 percent), plus Cost of Living Adjustments (COLAs).

When Should Your Spouse Take Social Security?

This next part is critical to understanding why you may have more options than you realize.  If you file for your own benefit (or, if you already filed for and then suspended your own benefit), your spouse will be permitted to file for spousal benefits based on your record as soon as he or she is eligible.   When your spouse files, though, is as important as when you file.  If your spouse waits until her FRA (for readers born between 1943 and 1954, this is 66), she’ll receive the highest spousal benefit possible – which is 50 percent of your own PIA.  She is allowed to file as soon as she turns 62 but, if she does, she will only receive 35 percent of your PIA.  In this example, we’re going to assume that your spouse is not entitled to a benefit based on her own earnings record.  I have some examples for two-income households coming up in a later post.

The answer to the above question posed by my readers, therefore, will depend on how old both of you are.  If you filed for and suspended your own benefit by the deadline of April 29, 2016, that will make it possible for your spouse, assuming that she is at least 66, to file for a spousal benefit that will be 50 percent of your own PIA.  (She can file at 62, but her benefit will be reduced.)  The spousal benefit will give your family some income from Social Security every month, while at the same time allowing your own benefit to grow by those DRCs and COLAs.  Maybe you can’t get another job that pays as well as the one you have right now, but you might be able to get one that you enjoy a lot more – like working on a golf course – because your spouse now has a source of income that can make up the difference.

Remember that, in order for your spouse to be able to claim spousal benefits based on your record without you having to collect your benefit, you had to have filed for and suspended your own benefit by April 29, 2016.  If you did, your spouse can collect spousal benefits while your own benefit continues to grow by DRCs and COLAs.  If you didn’t file and suspend by April 29, 2016, your spouse cannot collect spousal benefits unless you are also collecting your own benefit.

So what happens when you do get that pink slip?  As tempting as it might be to just throw in the towel and collect whatever Social Security you can, I’d recommend that you continue working in some capacity if you are able to do so.  Even a part-time job will provide you with some money and, if your spouse is able to claim spousal benefits based on your record, you just might have enough income to meet your expenses while still allowing your own benefit to grow to the maximum possible.

Should I Spend My 401(k) Money First?

Many of my readers have some money in retirement plans (both traditional and Roth), and also some money in non-retirement accounts.  They’ve asked me which account they should spend first, and whether it is better to take Social Security early so that they can delay spending their retirement accounts for as long as possible.  So let’s look at the alternatives.

For most people, it is better to spend your non-retirement accounts before your retirement accounts.  The graph that follows is from my book, Retire Secure!  It shows that, the longer you can leave your money in a tax-deferred (or tax-free) account, the longer it will last.

Should I spend my 401(k) money

 

Once your investment account is liquidated, the question becomes complicated. You should spend your traditional and Roth IRAs strategically, depending on your own personal tax situation. What the heck does that mean? I wish there was a one-size-fits-all answer, but there isn’t. However, Chapter 4 of my book, Retire Secure!, does contain an extensive analysis of this topic, and includes specific examples that may provide you with some additional insight. If you’d like to learn more about why it’s so important to spend the right money first, you can get a copy of the book from this website.

If you don’t want to read the book, here are some general points to consider. You’ll be required to take withdrawals from your traditional IRA when you turn 70 ½, and those withdrawals will be taxable. Income generated from non-qualified investment accounts is taxable. If you have enough taxable income from other sources, a portion of your Social Security will also be taxable. Most retirees don’t plan for unavoidable changes in their tax situations, and their failure to do so can be very expensive. What we strive to do in our practice is find the spending and tax management strategies that make your money last as long as possible. Ultimately, the solution is different for each client.

Readers, thank you for the questions and please keep them coming! I love hearing from you! And check back soon to read about some more real-life challenges that people like you are dealing with!

 

 

New Social Security Rule Will Hurt Women by Eliminating Benefits Options

James Lange, CPA/Attorney, Advises Married Couples Ages 62-70 to Apply and Suspend NOW. After April 29, 2016, it will be too late!

In early November, President Obama signed the Bipartisan Budget Act of 2015 into law and the repercussions are devastating to the married women of our country.

Pittsburgh – December 16, 2015Lange Financial Group, James Lange, Pittsburgh, Social SecurityMarried women, statistically the widows of the future, will pay a high price due to the changes that the Bipartisan Budget Act of 2015 has made to Social Security. Pittsburgh attorney and CPA James Lange takes action by releasing audio and video presentations as well as transcripts and a report that will help couples ages 62-70 navigate this new rule and protect their benefits while they still can!

SOCIAL SECURITY SURVIVOR BENEFITS ARE CRITICAL TO WOMEN

The financial well-being of widows is often dependent upon the choices that are made while their spouses are still alive. Spousal and survivor Social Security benefit choices can mean the difference between living comfortably in retirement and falling under the poverty line for women whose spouses leave them behind. Widows are commonly younger than their deceased husbands and the Social Security benefits they have earned, especially in the Boomer generation, are commonly less than that of their deceased husbands. This means that a widow will depend on collecting survivor benefits, often for many years, based on the benefits to which their deceased spouses were entitled.

“One of the best things a husband can do to protect his wife in widowhood is to maximize his own Social Security benefits. One technique that we use with our clients is apply & suspend.” James Lange of Pittsburgh-based, Lange Financial Group, LLC comments. “The law prior to the Bipartisan Act allowed the husband to apply for, and then suspend collection of his benefits, while allowing his wife to collect a spousal benefit. It was a win-win for our clients!”

This technique was used strategically to maximize the husband’s and wife’s long-term benefits. That, unfortunately, is coming to an end, with the exception of certain couples who take the appropriate action between now and April 29, 2016. For many couples, the income stream from spousal benefits in the previously allowed apply and suspend technique made it possible (or at least more palatable) for the husband to wait until age 70 to collect Social Security, thus maximizing their benefits.

“This new law cuts off that income stream, making it if not impossible, at least more difficult, for husbands to choose to delay collection of their benefits.” Lange warns, “Unfortunately, it is the widows of these husbands who cannot maximize their Social Security benefits who will be left in reduced circumstances for the rest of their lives.”

JIM LANGE’S ADVICE

DO NOT WAIT. Congress has eliminated one of the best Social Security maximization strategies. Fortunately, some recipients may be grandfathered already and others could be grandfathered if they act between now and April 29, 2016. Others will have to make do with the new laws. In either case, now is the time to review your options. We have posted a one hour audio with a written transcript explaining the old law, the new law and the transition rules. Readers can go to www.paytaxeslater.com to access this audio and transcript.

ABOUT JAMES LANGE Jim Lange, Social Security, Pittsburgh

James Lange, CPA/Attorney is a nationally-known Roth IRA and retirement plan distribution expert. He’s also the best-selling author of three editions of Retire Secure! and The Roth Revolution: Pay Taxes Once and Never Again. He hosts a bi-weekly financial radio show, The Lange Money Hour, where he has welcomed numerous guests over the years including top experts in the fields of Social Security, IRAs, and investments.

With over 30 years of experience, Jim and his team have drafted over 2,000 wills and trusts with a focus on flexibility and meeting the unique needs of each client.

Jim’s recommendations have appeared 35 times in The Wall Street Journal, 23 times in the Pittsburgh Post-Gazette, The New York Times, Newsweek, Money magazine, Smart Money and Reader’s Digest. His articles have appeared in The Journal of Retirement Planning, Financial Planning, The Tax Adviser (AICPA), and other top publications. Most recently he has had two peer-reviewed articles published on Social Security maximization in the prestigious Trusts & Estates magazine.

To learn more, or sign up for their newsletter, visit www.paytaxeslater.com.

Live Gay, Retire Rich is Now Available on Amazon!

Live Gay Retire Rich by James Lange

I’m excited to inform you that my latest edition of Live Gay, Retire Rich, endorsed by the top IRA, Social Security, and legal experts in the country, is now available on Amazon. http://amzn.to/1LAIbAY

Live Gay, Retire Rich! is the Second Edition of Retire Secure! for Same-Sex Couples, now updated to include the positive holding of the Supreme Court Case Obergefell v. Hodges and its implications.

For example:

There were two gay couples with identical financial resources.  They each had the same amount of money, identical investments, identical taxes, and identical earnings history for Social Security purposes.   The first couple didn’t do any planning. The second couple followed the advice offered in Live Gay, Retire Rich! Using reasonable assumptions, the first couple runs out of money in 28 years while the second couple has $1.4 million and their portfolio continues to grow.

What was the difference? The first couple didn’t follow our advice; the second couple did. The first couple never got married, started receiving Social Security benefits at 62, didn’t make any Roth IRA conversions, and didn’t use key IRA and retirement plan estate planning strategies recommended in Live Gay, Retire Rich!  The second couple did get married, used our recommended apply and suspend technique for Social Security, did a series of Roth IRA conversions, and used the key IRA and retirement plan estate planning strategies we recommend.

I strongly urge you to pick up my new book on Amazon. http://amzn.to/1LAIbAY.
Regards,

LANGE1_Blue

James Lange
CPA/Attorney

P.S. Our assumptions include a Social Security technique, apply and suspend, that may not be available for much longer. Get your copy today and find out if this strategy could work for you, before it’s too late!

____________________________________________________________________________

Praise for Live Gay, Retire Rich!:

This is an exciting time to be part of the LGBTQ community in America and it also is an important moment to take advantage of the financial opportunities that are now available to us. Jim Lange’s book Live Gay, Retire Rich! is an easy-to-understand and valuable tool that will help us navigate the financial waters and successfully plan for our future.
Billie Jean King, Founder, Billie Jean King Leadership Initiative

Jim has generously pledged the proceeds from this book to Freedom to Marry and naturally, I appreciate that. But what I really appreciate is his bringing his expertise to bear on helping the couples for whom we have already won the freedom to marry.
Evan Wolfson (from the foreword), Founder and President, Freedom to Marry, A national campaign dedicated to marriage equality for same-sex couples

Jim provides a comprehensive road map to all the new retirement and estate planning strategies that were not previously available to same-sex couples. But they are now, and couples who wish to take advantage of them to enhance their options, increase their wealth, cut their taxes and live with financial security should dive into this gem.
Ed Slott, CPA, America s IRA Expert

Jim Lange has written a wonderful book for all committed couples same-sex or opposite sex who are considering marriage. Once you reach retirement age, marriage becomes the best way of preserving income and wealth for the partner who survives.
Jane Bryant Quinn, Columnist, AARP and Editorial Director, Daily Voice Author, Making the Most of Your Money NOW

Additional testimonials from Burton Malkiel, Kaye Thomas, Jan Cullinane, Mel Lindauer, Brian Tracy, and Sidney Kess and more information about Live Gay, Retire Rich available at www.outestateplanning.com. ____________________________________________________________________________

About Jim Lange

James Lange, CPA/Attorney has been helping same-sex couples since 2002.  He is a nationally recognized Roth IRA and retirement plan distribution expert and understands the best techniques for married couples to get the most out of Social Security.  The combination of his financial expertise as well as an understanding of the changing legal status of same-sex marriage makes Jim the logical person to write Live Gay, Retire Rich which can now be purchased at http://amzn.to/1LAIbAY

He’s also the best-selling author of the first and second edition of Retire Secure! with dozens of testimonials from the nation’s top IRA, investment, and estate planning experts and The Roth Revolution: Pay Taxes Once and Never Again.

Jim’s recommendations have appeared 35 times in The Wall Street Journal, 23 times in the Pittsburgh Post-Gazette, The New York Times, Newsweek, Money magazine, Smart Money and Reader’s Digest. His articles have appeared in The Journal of Retirement Planning, Financial Planning, The Tax Adviser (AICPA), and other top publications.  His article, Optimizing Social Security Benefits for Unmarried Couples, was just published in Trusts & Estates magazine.

 

Live Gay, Retire Rich Celebration!

To celebrate the release of Live Gay, Retire Rich on November 1st, we’ve created a giveaway on GoodReads!

You must have a GoodReads account to enter (which is pretty easy to create if you don’t already have one). The giveaway is only open to residents in the United States.

From November 2 to November 15th, you can enter the giveaway on GoodReads here (https://www.goodreads.com/giveaway/show/160571-live-gay-retire-rich-retire-secure-for-same-sex-couples). If you add the book to your “to-read” shelf, you will be notified when the giveaway opens!

LGRR Giveaway November

Or you can enter here once the giveaway opens:

Goodreads Book Giveaway

Live Gay, Retire Rich by James Lange

Live Gay, Retire Rich

by James Lange

Giveaway ends November 15, 2015.

See the giveaway details
at Goodreads.

Enter Giveaway

At Last! Legal Gay Marriage States are Nationwide

Out Estate Planning, Supreme Court Gay Marriage Ruling, James Lange“Today, we can say in no uncertain terms that we have made our union a little more perfect.” – President Obama from the White House, June 26, 2015.

In a historic 5-4 vote today, The Supreme Court of the United States (SCOTUS) issued a ruling making gay marriage states legal nationwide. The day does not appear to be happenstance, either. On June 26, 2003 SCOTUS struck down the sodomy laws, in June 26, 2013 SCOTUS struck down DOMA (the Defense of Marriage Act), and today Justice Kennedy joined by Justices Ginsberg, Breyer, Sotomayor, and Kagan delivered a beautifully human, and well thought out opinion for the majority ending states abilities to ban gay marriage.

Here is an excerpt from that groundbreaking opinion:

“No union is more profound than marriage, for it embodies the highest ideals of love, fidelity, devotion, sacrifice, and family. In forming a marital union, two people become something greater than once they were. As some of the petitioners in these cases demonstrate, marriage embodies a love that may endure even past death. It would misunderstand these men and women to say they disrespect the idea of marriage. Their pleas is that they do respect it, respect it so deeply that they seek to find its fulfillment for themselves. Their hope is not to be condemned to live in loneliness, excluded from one of civilization’s oldest institutions. They ask for equal dignity in the eyes of the law. The constitution grants them that right.”

It is so ordered.

While this is a huge coup for human and civil rights, many people do not realize the huge potential for LGBT couples to now gain the financial equality they have long been denied.

Our very own Jim Lange, has been talking about this potential financial equality for years, and advising his LGBT clients to take advantage of the opportunities that become available to them when marriage is a possibility.

His newest book on the subject, Live Gay, Retire Rich! is available for pre-order now at Amazon.com – http://amzn.to/1LAIbAY.

With the Freedom to Marry comes Enormous Financial Benefits for Same-Sex Couples

Jim recently went to San Antonio, Texas to be on Great Day San Antonio where he discussed the financial benefits for same-sex couples who get married.

With the Supreme Court’s decision on the freedom to marry set to occur any day now, it is important to take a moment and assess what this means for the LGBT community from a perspective that most aren’t talking about: the new financial benefits and security for you and your partner.

To watch this interview click here or press play below.

Jim Lange’s new book Live Gay, Retire Rich is set for release in July 2015. To pre-order your copy of the book click here. Jim will also be hosting a retirement and estate planning workshop for the LGBT community in Pittsburgh on July 11th. You can learn more or register for the workshop here.

James Lange is interviewed by Paul Mireles of Great Day San Antonio about what motivated him to write a book about the financial benefits for same-sex couples who get married.

LGBT Couples Need New Financial Advice!

James Lange, CPA/Attorney, highlights potential financial benefits available to LGBT couples who marry

Pittsburgh – April 28, 2015 –The United States Supreme Court is hearing arguments today on the issue of marriage equality. This historic case should be decided by June.

The two likely possibilities of the decision are:

  1. Supreme Court says all states have to offer same-sex couples the right to marry.
  2. Supreme Court says all states have to recognize marriages performed outside their state.

In either case, all states will likely have to recognize same-sex marriage, even if the couple has to travel to get married in a state that does recognize same-sex couples and then return home.

WHAT ARE THE FINANCIAL BENEFITS OF MARRIAGE?

Retire Secure! For Same-Sex Couples Cover 7x10-2According to James Lange, a best-selling author, Certified Public Accountant, attorney and president of Pittsburgh-based Lange Financial Group, there are potential benefits that many people know about including the “marriage bonus” when preparing tax returns and health benefits being extended to new spouses. But what many people do not consider are 2 enormous financial benefits of marriage for couples who are 60 and over:

1. Marriage can increase your Social Security benefits: There are options to increase your total household Social Security benefits when you are married. Spousal benefit rules impact a couple while both are alive, and the survivor benefit available is impactful after one spouse passes. Over time, the difference can be hundreds of thousands of dollars or even millions of dollars. This could be even more important if one spouse has a strong earnings record and the other spouse does not.

The graph below shows the difference between a couple not getting married and taking their Social Security benefits at age 62, versus getting married and utilizing a technique called Apply & Suspend for their Social Security. The difference is going broke in your 90s versus having more than $2 million. Image1

 

2. For purpose of inheriting money, most states and the federal government impose less inheritance and income taxes on assets left to a spouse than on assets left to a non-spouse. After Windsor (a previous case), however, the IRS will recognize same-sex marriages for federal income and estate tax purposes as long as the couple was married in a state that recognizes same-sex marriages. This makes transfer of assets between a married LGBT couple much easier than between a non-married couple.

Lange warns, however, that there could be some drawbacks including the potential health care liability of getting married, and the so called “marriage penalty” that may affect some taxpayers. He encourages same-sex couples that are currently marriage or weighing the benefits of marriage to read his book, Retire Secure for Same-Sex Couples: Live Gay, Retire Rich, in which he details recommendations for the issues mentioned herein and so many more.

Lange’s book lays recommendations in a convincingly detailed yet surprisingly easy-to-follow fashion and is available to purchase through www.outestateplanning.com.

About James Lange

James LangeJames Lange, CPA/Attorney started the first exclusive LGBT estate planning website in Pittsburgh, in 2002. Jim is a nationally-known Roth IRA and retirement plan distribution expert. He’s also the best-selling author of the first and second edition of Retire Secure! and Retire Secure! for Same-Sex Couples. With over 30 years of experience, Jim and his team have drafted over 1,995 wills and trusts with a focus on flexibility and meeting the unique needs of each client.

Jim’s recommendations have appeared 35 times in The Wall Street Journal, as well as the Pittsburgh Post-Gazette, The New York Times, Newsweek, Money magazine, Smart Money and Reader’s Digest. His articles have appeared in Trusts and Estates magazine, The Journal of Retirement Planning, Financial Planning, The Tax Adviser (AICPA), and other top publications.

To learn more, or sign up for their newsletter, visit www.outestateplanning.com

The Essence of Retire Secure For Same-Sex Couples – Part 5

This 9 part blog post series discusses along with graphs the essence of my book Retire Secure! For Same-Sex Couples: Live Gay, Retire Rich.

Retire Secure! for Same Sex Couples: Live Gay, Retire Rich quantitatively compares various courses of action. For those who don’t want to read through the explanation and detail, just looking at the 9 graphs could provide critical information with a minimum of reading effort. Please be aware that the recommendations beneath each figure will be advantageous in most situations, but not for everyone.

Starting Social Security Benefits At 62 Years Old vs. 70 Years Old

 

Graph5


Independent of getting married, it’s better to wait until 70 to take
Social Security than electing to take Social Security at 62.

The graph shows the total of all Social Security benefits received, plus interest, by two different people with identical earnings records. One begins collecting Social Security at age 62 and the other begins collecting at age 70.

Your benefit will be 76% plus the cost of living adjustment larger if you wait until age 70 to start collecting Social Security, as compared to starting at 62. The longer you live, the more you may need that larger benefit.

 

The Essence of Retire Secure For Same-Sex Couples – Part 4

This 9 part blog post series discusses along with graphs the essence of my book Retire Secure! For Same-Sex Couples: Live Gay, Retire Rich.

Retire Secure! for Same Sex Couples: Live Gay, Retire Rich quantitatively compares various courses of action. For those who don’t want to read through the explanation and detail, just looking at the 9 graphs could provide critical information with a minimum of reading effort. Please be aware that the recommendations beneath each figure will be advantageous in most situations, but not for everyone.

Inheriting a Second Generation IRA From a Married Parent vs. an Unmarried Parent

 

Graph4

 

Estate planning: Get married to provide maximum assets for your children or other heirs after both you and your partner die.

This graph shows the difference to the eventual heir depending on whether the person leaving him the IRA had married vs. had not gotten married. Tax laws favor the married couple when one of the spouses dies, allowing the surviving spouse to “pay taxes later.” In addition to this advantage, tax laws favor heirs of a married couple. When the surviving spouse dies, his heir is permitted to “stretch” the IRA and “pay taxes (much) later.”

Tax laws penalize the unmarried couple. The first time an IRA is inherited by a non-spouse, the unmarried partner is forced to “pay taxes sooner.” The rules are even less favorable for the surviving partner’s heir, forcing him to “pay taxes (much) sooner.” Don’t Pay Taxes Now, Pay Taxes Later—even after both you and your partner/spouse are gone.

The Essence of Retire Secure For Same-Sex Couples – Part 3

This 9 part blog post series discusses along with graphs the essence of my book Retire Secure! For Same-Sex Couples: Live Gay, Retire Rich.

Retire Secure! for Same Sex Couples: Live Gay, Retire Rich quantitatively compares various courses of action. For those who don’t want to read through the explanation and detail, just looking at the 9 graphs could provide critical information with a minimum of reading effort. Please be aware that the recommendations beneath each figure will be advantageous in most situations, but not for everyone.

Inheriting an IRA From a Spouse vs. an Unmarried Partner

 

Graph3

 

Estate planning: Get married to provide maximum IRA and retirement plan assets for your partner after your death.

This graph shows the total assets for two individuals who each inherit a $1,000,000 IRA at the age of 72—one inherits from his spouse and the other from his unmarried partner. The tax laws will allow a surviving spouse to keep the money growing tax-deferred much longer than they allow for a surviving partner. Under the projected law changes for Inherited IRAs, the scenario is even worse for the unmarried survivor. Getting married allows your surviving spouse to pay taxes later than if you stayed unmarried. Don’t Pay Taxes Now, Pay Taxes Later—even after you die.